🗞 Uncomfortable retirement

Good morning. We would like to start today's email by saying we always welcome feedback... unless you are one of the five people below.

It was revealed that last year’s complaints on aircraft noise doubled to 51,859. However half of those complaints came from just 5 individuals.

Topping the list is a Perth resident who lodged an impressive 21,716 complaints — averaging 60 per day.

Coming in second is a Brisbane resident, who submitted a comparatively modest 4,071 complaints, accounting for a measly 11 per day.

We look forward to hearing your feedback.

All the headlines and more below...

THE ODD PICK

The ATO is cracking down on misinformation falsely claiming that taxes are voluntary

AUSTRALIAN NEWS

The cost of a comfortable retirement keeps rising

• The cost of a comfortable retirement in Australia has climbed 20% over 5 years, with couples now requiring $73,337 annually and singles requiring $52,085. LINK*

• Attempts at bizarre tax deductions are increasing as households face cost-of-living pressures. LINK*

• State premiers have agreed to new governance rules for the NDIS, reducing their veto power and signalling progress on disability reform legislation. LINK*

• Photographs of space travel and heavy industry fetched prices 100 times their estimates at a Melbourne auction. LINK*

*paywall

GLOBAL NEWS

Sorry, adults don’t benefit from light drinking

• A large study has found that even light drinking does not benefit older adults and increases cancer risk, challenging the long-held belief that moderate alcohol consumption is good for the heart. LINK*

• Myanmar's rapid depreciation of its currency, the kyat, is causing prices of essentials like food and medicine to soar, worsening the economic situation for households amid civil war. LINK

• Iron ore prices dropped 35% this year due to China’s property downturn, threatening Australia’s finances and steel industry. LINK

• Data centre supply under construction in North America's top markets jumped by about 70% compared to a year ago. LINK

• Italian authorities are investigating whether open hatches caused Mike Lynch’s superyacht to sink off Sicily, with specialist divers continuing to search for 6 missing passengers. LINK*

COMPANY NEWS

Aussies are still buying the lotto despite rising living costs

• The Lottery Corporation reported a 13.8% increase in annual revenue to $4B, as Australians continued to participate in lotteries despite the cost-of-living crisis. LINK*

• St Vincent’s Hospital and NIB have reached a new funding agreement that avoids price hikes for patients. LINK*

• Amazon has chosen Sydney as the first Australian city to launch same-day deliveries, investing an extra $1.6B. LINK

• Netflix saw a 150% surge in upfront ad commitments. LINK

• Jetstar faces a class action for failing to refund customers after COVID-19 flight cancellations, instead issuing credits. LINK

• Disney has dropped its attempt to avoid a wrongful death lawsuit following public backlash. LINK

• Domino's flagged a weak start to FY25, as rising costs and frugal consumers impacted profitability across its franchises. LINK

• Elon Musk’s $13B Twitter acquisition has become the worst merger-finance deal for banks since the 2008-09 GFC. LINK

• Rex, typically a punctual airline saw almost a third of flights arriving late in July. LINK*

• Charter Hall beat expectations as investors embraced its bullish outlook on the property cycle, driving its stock up by 15.8%. LINK*

• Westpac and NAB have cut fixed mortgage rates below 6%, fuelling hopes of falling interest rates. LINK*

• Scentre Group, operator of Westfield malls, reported healthy results despite a slowdown in consumer spending. LINK*

• Facebook has removed posts promoting pro-nuclear content from the group Nuclear for Australia. LINK*

• MA Financial and Humm Group have signed a $1B deal to acquire loans secured against equipment and vehicles. LINK*

• Breville posted record sales of $1.53B, driven by strong coffee machine sales in the US. LINK*

• IAG has attributed rising insurance premiums to increasing construction costs. LINK*

• The University of Newcastle has achieved remarkable results by lifting HSC scores by 50% through its Quality Teaching Rounds program. LINK*

CHART OF THE DAY

History suggests companies that invest in innovation through a crisis outperform peers during the recovery

BRAINTEASER

Can You Steal My Bike?

Can you steal my bike with the code below? I'm in a mid life crisis so it's worth more than my car. Good luck.

• It's a six-digit code for the lock.

• The two-digit number formed by the middle two digits was the result of multiplying the first digit by the second digit.

• The two-digit number formed by the last two digits of the code was double the number formed by the middle two digits.

• The first digit was 7 and all six digits were different.

What is the last digit of the code for my bike lock?
A) 2
B) 4
C) 6
D) 8

Answer below

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ANSWER

C) 6